The Ottawa-based satellite company posted a net loss of $530 million for the last calendar year, compared to a $302-million loss the year prior, as revenues dropped and the value of its traditional satellite business declined. (The Logic)

Talking point: Telesat has high hopes for its new Lightspeed low-orbit system, especially as the federal government prepares to make big defence investments in satellite capabilities to support Arctic sovereignty. The new constellation isn’t yet generating revenue, as the company expects to launch the first Lightspeed satellites in late 2026. Telesat has yet to refinance the US$2.1 billion debt related to its traditional satellite business, due to mature late this year. Still, the company’s stock shot up 19 per cent Tuesday as CEO Dan Goldberg touted the company’s promising position in the midst of a “generational increase” in global defence investment.